| 1. |
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| 2. |
- Andersson, Fredrik, et al.
(författare)
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Tax competition and economic geography
- 2003
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Ingår i: Journal of Public Economic Theory. - 1097-3923. ; 5, s. 279-303
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Tidskriftsartikel (refereegranskat)
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| 3. |
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| 4. |
- Andersson, Fredrik, et al.
(författare)
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Värna konkurrensen mellan bankerna
- 2009
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Ingår i: Ekonomisk Debatt. - 0345-2646. ; 37:1, s. 3-4
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Tidskriftsartikel (populärvet., debatt m.m.)
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| 5. |
- Baldwin, Richard E., et al.
(författare)
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Trade Liberalization with Heterogeneous Firms
- 2010
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Ingår i: Review of Development Economics. - : Wiley. - 1363-6669 .- 1467-9361. ; 14:2, s. 161-176
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Tidskriftsartikel (refereegranskat)abstract
- This paper examines the various aspects of trade liberalization with heterogeneous firms using the Melitz (2003) model. We find a number of novel results and effects including a Stolper-Samuelson-like result and several results related to the volume of trade, which are empirically testable. We also analyze what might be called an anti-variety effect as the result of trade liberalization. We show that this effect is most pronounced for small countries. This resonates with the often voiced criticism from antiglobalists that globalization leads the world to become more homogeneous by eliminating local specialties. Nevertheless, we find that trade liberalization always leads to welfare gains in the model.
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| 6. |
- Baldwin, Richard, et al.
(författare)
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Globotics and Development : When Manufacturing Is Jobless and Services Are Tradeable
- 2023
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Ingår i: World Trade Review. - 1474-7456 .- 1475-3138. ; 22:3-4, s. 302-311
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Tidskriftsartikel (refereegranskat)abstract
- Globalization and robotics (globotics) are jointly transforming the world economy at an explosive pace. While much of the literature has focused on rich nations, the changes are quite likely to affect developing nations in important ways. The premise of the paper - which should be regarded as a thought-piece - is based on an extreme thought experiment. What does development look like when digital technology has rendered manufacturing jobless and many services freely traded? Our conclusion is that the service-led development path may become the norm rather than the exception; think India, not China. Since success in the service sector is based on quite different factors than success in manufacturing, development strategies and mindsets may have to change. This is an optimistic conclusion since it suggests that developing nations can directly export the source of their comparative advantage - low-cost labour - without having first to make goods with that labour.
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| 7. |
- Baldwin, Richard, et al.
(författare)
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The development and future of factory Asia
- 2014
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Ingår i: Asia and global production networks. - Cheltenham : Edward Elgar Publishing. - 9781783472093 - 9781783472086 ; , s. 338-367
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Bokkapitel (refereegranskat)
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| 8. |
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| 9. |
- Ekholm, Karolina, et al.
(författare)
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Trade and location with horizontal and vertical multi-region firms
- 2001
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Ingår i: The Scandinavian journal of economics. - : Blackwell Publishing. - 1467-9442 .- 0347-0520. ; 103:1, s. 101-118
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Tidskriftsartikel (refereegranskat)abstract
- We analyse the effect on agglomeration tendencies of allowing multi-region firms in a standard trade and location model, the core–periphery (CP) model developed by Kurgman (1991). The introduction of horizontal multi-region firms mitigates the agglomeration effects found in the CP model by reducing the range of trade costs for which the core–periphery equilibrium occurs. The introduction of vertical multi-region firms that separate the location of headquarters and plants has two counteracting effects. While headquarters exhibit a strong tendency to concentrate, plants tend to spread out. The equilibrium is always asymmetric in spite of the underlying symmetry of the model.
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| 10. |
- Ferguson, Shon, 1979-
(författare)
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Essays on Trade, Technology and the Organization of Firms
- 2010
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- "Endogenous Sunk Costs, Exporting and Heterogeneous Firms" Empirical evidence shows that R&D spending is highly correlated with firm productivity and highly concentrated among large firms. This paper develops a model of quality competition with heterogeneous firms that can explain these patterns. The model makes two new predictions. The first prediction is that exporters upgrade while domestic firms downgrade when trade liberalizes. The second prediction is that quality competition reduces the effect of trade liberalization along the extensive margin. "Endogenous Product Differentiation, Market Size and Trade" Recent empirical evidence suggests that average export prices are higher when firms sell in large markets. This paper offers a theoretical explanation for why we do not always see pro-competitive market size effects in the trade data for differentiated goods. The model here proposes that export prices can in fact be higher in larger countries because firms have greater incentive to differentiate their products, which increases price-cost markups. In the two-country case the model predicts that larger countries sell manufacturing goods at higher price-cost markups than smaller countries. "Institution-Driven Comparative Advantage, Complex Goods and Organizational Choice" The theory of the firm suggests that firms can respond to poor contract enforcement by vertically integrating their production process. The purpose of this paper is to examine whether firms' integration opportunities affect the way institutions determine international trade patterns. We find that vertical integration lessens the impact of a country's ability to enforce contracts on the comparative advantage of complex goods. We also find that countries with good financial institutions export disproportionately more in sectors that produce complex goods and that have a high propensity for vertical integration.
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| 11. |
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| 12. |
- Ferguson, Shon, et al.
(författare)
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Sizing Up the Impact of Embassies on Exports
- 2019
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Ingår i: Scandinavian Journal of Economics. - : Wiley. - 0347-0520 .- 1467-9442. ; 121:1, s. 278-297
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Tidskriftsartikel (refereegranskat)abstract
- The purpose of this study is to test for the effects of trade promotion via the foreign service. The theory of trade with heterogeneous firms predicts that unilateral trade promotion allows medium-sized firms to export. We investigate the effects of trade promotion using firm-level data and information on the opening and closing of embassies abroad from the very similar neighboring countries Sweden and Norway. We use a difference-in-difference specification where firms from Norway are used as a control group for Swedish firms. Our results show that large firms as well as medium-sized firms respond to the opening of embassies.
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| 13. |
- Forslid, Rikard, et al.
(författare)
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Agglomeration of low-productive entrepreneurs to large regions : a simple model
- 2021
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Ingår i: Spatial Economic Analysis. - : Informa UK Limited. - 1742-1772 .- 1742-1780. ; 16:4, s. 471-486
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Tidskriftsartikel (refereegranskat)abstract
- This paper develops a simple model of spatial sorting where the least productive entrepreneurs are drawn to the large core region. This is an unusual feature. The literature on spatial sorting typically shows how the most productive individuals and firms agglomerate to the core. However, our model is consistent with empirical evidence that reveals that large agglomerations also attract the low skilled.
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| 14. |
- Forslid, Rikard, et al.
(författare)
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Assessing the consequences of quarantines during a pandemic
-
Annan publikation (övrigt vetenskapligt/konstnärligt)abstract
- This paper analyzes the epidemiological and economic effects of quarantines. We use a basic epidemiological model, a SEIR-model, that is calibrated to roughly resemble the COVID-19 pandemic, and we assume that individuals that become infected or are isolated on average lose a share of their productivity. An early quarantine postpones but does not alter the course of the pandemic at a cost that increases in the duration and the extent of the quarantine. For quarantines at later stages of the pandemic there is a trade-off between lowering the peak level of infectious people on the one hand and minimizing fatalities and economic losses on the other hand. A longer quarantine dampens the peak level of infectious people and also reduces the total number of infected persons but increases economic losses. Both the peak level of infectious individuals and the total share of the population that will have been infected are U-shaped in relation to the share of the population in quarantine, while economic costs increase in this share. In particular, a quarantine covering a moderate share of the population leads to a lower peak, fewer deaths and lower economic costs, but it implies that the peak of the pandemic occurs earlier.
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| 15. |
- Forslid, Rikard, et al.
(författare)
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Assessing the consequences of quarantines during a pandemic
- 2021
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Ingår i: European Journal of Health Economics. - : Springer Science and Business Media LLC. - 1618-7598 .- 1618-7601. ; 22:7, s. 1115-1128
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Tidskriftsartikel (refereegranskat)abstract
- This paper analyzes the epidemiological and economic effects of quarantines. We use a basic epidemiological model, a SEIR-model, that is calibrated to roughly resemble the COVID-19 pandemic, and we assume that individuals that become infected or are isolated on average lose a share of their productivity. An early quarantine postpones but does not alter the course of the pandemic at a cost that increases in the duration and the extent of the quarantine. For quarantines at later stages of the pandemic there is a trade-off between lowering the peak level of infectious people on the one hand and minimizing fatalities and economic losses on the other hand. A longer quarantine dampens the peak level of infectious people and also reduces the total number of infected persons but increases economic losses. Both the peak level of infectious individuals and the total share of the population that will have been infected are U-shaped in relation to the share of the population in quarantine, while economic costs increase in this share. In particular, a quarantine covering a moderate share of the population leads to a lower peak, fewer deaths and lower economic costs, but it implies that the peak of the pandemic occurs earlier.
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| 16. |
- Forslid, Rikard, et al.
(författare)
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Big is Beautiful when Exporting
- 2016
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Ingår i: Review of International Economics. - : Wiley. - 0965-7576 .- 1467-9396. ; 24:2, s. 330-343
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Tidskriftsartikel (refereegranskat)abstract
- This paper starts out from the observation that the export ratios of firms (export to sales ratios) vary greatly among firms and that they are systematically higher for larger exporters. We relate the difference in export ratios to firm-level differences in transport costs. In accordance with the data, we assume that freight rates are a function of firm-level export volumes. We test our model using Japanese manufacturing firm-level data. We first estimate the elasticity of the freight rate with respect to firm-level export volumes at the sector level. When feeding these estimates back into the model, it can explain more than 50% of the variation in firm-level export ratios.
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| 17. |
- Forslid, Rikard, et al.
(författare)
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Brexit : How to Reach an Amicable Divorce*
- 2021
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Ingår i: Scandinavian Journal of Economics. - : Wiley. - 0347-0520 .- 1467-9442. ; 123:3, s. 966-994
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Tidskriftsartikel (refereegranskat)abstract
- Control over borders and access to the common market were key issues in the Brexit negotiations concerning the UK's future relationship with the European Union (EU). The parties have expressed strong political commitments regarding both issues. We explore a sequential model, which allows us to analyze the effects of these commitments. It is assumed that the UK controls labor mobility, and that the EU can constrain trade to dissuade future secession, or to punish the UK. We find that the EU has an incentive to claim trade and mobility to be inseparable freedoms whether that reflects its true preferences or not. Our model also implies that both parties are better off if the UK commits to a mobility policy first. Moreover, UK contributions to the EU budget can substitute for trade restriction and allow for a more efficient outcome. Finally, while the EU lacks bargaining power without a readiness to impose trade restrictions, a stronger will to punish the UK does not affect mobility but harms trade. Hence, fueling resentment about Brexit does not benefit the EU.
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| 18. |
- Forslid, Rikard, 1961-
(författare)
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Bör länderna inom EU stödja fordonsindustrin?
- 2009
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Denna artikel diskuterar argumenten för statligt stöd till fordonsindustrin med anledning av den ekonomiska krisen. Även om EU-kommissionen i viss mån öppnat för subventioner av fordonsindustrin är det svårt att idag hitta tydliga marknadsmisslyckanden som kan motivera subventioner av denna industri. De positiva externaliteter som genereras inom de fordonsindustriella klustren bör sedan länge vara internaliserade av den ekonomiska politiken, och det marknadsmisslyckande som tycktes uppstå i kreditmarkanden kring årsskiftet 2008/2009 har nu försvunnit. Ett återstående argument är att omvärldens stöd till fordonsindustrin gör att inhemska tillverkare kommer i ett strategiskt underläge. Värdet av strategiska subventioner för ett enskilt land beror bland annat på om tillverkarna är utlandsägda eller inte.
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| 19. |
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| 20. |
- Forslid, Rikard, 1961-, et al.
(författare)
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Industripolitik för den svenska fordonsindustrin
- 2009
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Rapport (övrigt vetenskapligt/konstnärligt)abstract
- Denna rapport diskuterar motiven för ett riktat statligt stöd till den svenska fordonsindustrin. Ett möjligt argument för ett sådant stöd är marknadsmisslyckandet på finans och kreditmarknaden, som slår oproportionerligt hårt mot fordonsindustrin där både producenter och konsumenter är mycket beroende av krediter. Vi finner också att fordonsindustrin, som är en FoU intensiv bransch, ligger relativt väl till när det gäller Sveriges förväntade framtida komparativa fördelar. Men även om fordonsindustrin har en framtid i Sverige betyder det inte att alla företagen är livskraftiga. Det är viktigt att se till att ett eventuellt stöd utformas så att den naturliga strukturomvandlingen inom fordonssektorn inte försvåras.
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| 21. |
- Forslid, Rikard, et al.
(författare)
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On the development strategy of countries of intermediate size an analysis of heterogeneous firms in a multi region framework
- 2012
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Ingår i: European Economic Review. - : Elsevier BV. - 0014-2921 .- 1873-572X. ; 56:4, s. 747-756
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Tidskriftsartikel (refereegranskat)abstract
- This paper compares two policies: trade cost reduction and firm relocation cost reduction using a three-country version of a heterogeneous-firms geography and trade model, where the three countries have different market (population) sizes. We show how the effects of the two policies differ, in particular for the country of intermediate size. Unless the intermediate country is very small, in a relative sense, it will gain industry when relocation costs are reduced, but lose industry when trade costs are reduced. The smallest country loses industry in both cases, but only experiences lower welfare in the case of lower relocation costs. Thus, the ranking of the policies from the point of view of the two small and intermediate countries tends to be the opposite.
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| 22. |
- Forslid, Rikard, et al.
(författare)
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ON THE OPTIMAL PRODUCTION CAPACITY FOR INFLUENZA VACCINE
- 2015
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Ingår i: Health Economics. - : Wiley. - 1057-9230 .- 1099-1050. ; 24:6, s. 726-741
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Tidskriftsartikel (refereegranskat)abstract
- This paper analyzes the profit maximizing capacity choice of a monopolistic vaccine producer facing the uncertain event of a pandemic in a homogenous population of forward-looking individuals. For any capacity level, the monopolist solves the intertemporal price discrimination problem within the dynamic setting generated by the standard mathematical epidemiological model of infectious diseases. Even though consumers are assumed to be identical, the monopolist will be able to exploit the ex post heterogeneity between infected and susceptible individuals by raising the price of vaccine in response to the increasing hazard rate. The monopolist thus bases its investment decision on the expected profits from the optimal price path given the infection dynamics. It is shown that the monopolist will always choose to invest in a lower production capacity than the social planner. Through numerical simulation, it is demonstrated how the loss to society of having a monopoly producer decreases with the speed of infection transmission. Moreover, it is illustrated how the monopolist's optimal vaccination rate increases as its discount rate rises for cost parameters based on Swedish data. However, the effect of the firm discount rate on its investment decision is sensitive to assumptions regarding the cost of production capacity.
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| 23. |
- Forslid, Rikard, 1961-, et al.
(författare)
-
Premature agglomeration? Two phases of development with spatial sorting
- 2024
-
Ingår i: Manchester School. - 1463-6786 .- 1467-9957.
-
Tidskriftsartikel (refereegranskat)abstract
- Clusters in the developing world do, to a large extent, attract low-educated individuals, and these clusters are in some cases, characterized by urbanization without industrialization. This contrasts starkly to clusters in advanced economies that attract high-skilled individuals and entrepreneurs. In this paper, we develop a model of agglomeration and spatial sorting that is consistent with these two types of different agglomeration processes in developed and developing countries. We show that a poor country that has an agglomeration with low skilled individuals, may get stuck in this equilibrium, but that free mobility of human capital from the outset nevertheless is superior from the perspective of total social welfare.
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| 24. |
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| 25. |
- Forslid, Rikard, et al.
(författare)
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Spatial sorting with heterogeneous firms and heterogeneous sectors
- 2014
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Ingår i: Regional Science and Urban Economics. - : Elsevier BV. - 0166-0462 .- 1879-2308. ; 46, s. 42-56
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Tidskriftsartikel (refereegranskat)abstract
- The present paper focuses on spatial sorting as a mechanism behind the well-established fact that there is a central region productivity premium. Using a model of heterogeneous firms that can move between regions, Baldwin and Okubo (2006) show how more productive firms sort themselves to the large core region. We extend this model by introducing different fixed costs in terms of capital among firms and sectors. In accordance with empirical evidence, more productive firms are assumed to be associated with a higher fixed cost in terms of capital. As a result, our model can produce sorting to the large regions from both ends of the productivity distribution. Firms with high capital intensity and high productivity as well as firms with very low productivity and low capital intensity tend to relocate to the core. We use Japanese micro data to explore the predictions of the model. Many sectors show patterns that are consistent with two-sided sorting. We also find supportive evidence for our model prediction that two-sided sorting occurs in sectors with a high capital intensity.
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| 26. |
- Forslid, Rikard, 1961-, et al.
(författare)
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Trade Costs and the Timing of Competition Policy Adoption
- 2011
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Ingår i: Canadian Journal of Economics. - : Wiley. - 0008-4085 .- 1540-5982. ; 44:1, s. 171-200
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Tidskriftsartikel (refereegranskat)abstract
- This paper first presents stylized evidence showing how the date of the adoption of competition policy is correlated with country size. Smaller countries tend to adopt competition policy later. We then present a theoretical model with countries of different size, trade costs, and firms competing à la Cournot. In the model we show that reduced trade costs following from increasing globalization affect countries differently depending on their size. This has implications for the incentives to introduce competition policy. The predictions of the model are consistent with the empirical regularity presented.
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| 27. |
- Forslid, Rikard, et al.
(författare)
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Trade Liberalization, Transboundary Pollution, and Market Size
- 2017
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Ingår i: Journal of the Association of Environmental and Resource Economists. - : University of Chicago Press. - 2333-5955 .- 2333-5963. ; 4:3, s. 927-957
-
Tidskriftsartikel (refereegranskat)abstract
- This paper uses a monopolistic competitive framework to study the impact of trade liberalization on local and global emissions. We focus on the interplay of asymmetric emission taxes and the home market effect and show how a large-market advantage can counterbalance a high emission tax, so that trade liberalization leads firms to move to the large high-tax economy. Global emissions decrease when trade is liberalized in this case. We then simulate the model with endogenous taxes. The larger country, which has the advantage of the home market effect, will be able to set a higher Nash emission tax than its smaller trade partner yet still maintain its manufacturing base. As a result, a pollution haven will typically not arise in this case as trade is liberalized. However, global emissions increase as a result of international tax competition, which underscores the importance of international cooperation as trade becomes freer.
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| 28. |
- Forslid, Rikard, 1961-, et al.
(författare)
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Trade, location, and multi-product firms
- 2023
-
Ingår i: Regional Science and Urban Economics. - : Elsevier BV. - 0166-0462 .- 1879-2308. ; 100
-
Tidskriftsartikel (refereegranskat)abstract
- In this paper we study how trade liberalization affects the location and the product scope of firms. We find that the largest and most productive multi-product firms concentrate to the larger market as a result of trade liberalization. In the presence of relocation costs, we also find that these firms will expand their product scope in the larger market while firms in the smaller market will contract their product scope or expand it to a smaller degree. The adjustment of firms’ product scope can therefore be a substitute for firm relocation, and the cost of introducing new varieties becomes an important parameter, that influences the degree of agglomeration.
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| 29. |
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| 30. |
- Forslid, Rikard, et al.
(författare)
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WHICH FIRMS ARE LEFT IN THE PERIPHERY? : SPATIAL SORTING OF HETEROGENEOUS FIRMS WITH SCALE ECONOMIES IN TRANSPORTATION
- 2015
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Ingår i: Journal of regional science. - : Wiley. - 0022-4146 .- 1467-9787. ; 55:1, s. 51-65
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Tidskriftsartikel (refereegranskat)abstract
- This paper introduces scale economies in transportation in a trade and geography model with heterogeneous firms. This relatively small change to the standard model produces a new pattern of spatial sorting among firms. In contrast to the existing literature, our model produces the result that firms of intermediate productivity relocate to the large core region, whereas high-and low-productivity firms remain in the periphery. Trade liberalization leads to a gradual relocation to the core with the most productive firms remaining in the periphery.
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| 31. |
- Forslid, Rikard, et al.
(författare)
-
Whom to Vaccinate First - Some Important Trade-offs
- 2021
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Ingår i: Discussion paper series - Centre for Economic Policy Research. - 0265-8003 .- 2045-6573. ; 79, s. 93-116
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Tidskriftsartikel (refereegranskat)abstract
- This paper models the current pandemic to analyze vaccination strategies in a setting with three age groups that differ with respect to their fatality rates. The model also accounts for heterogeneity in the transmission rates between and within these age groups. We compare the outcomes in terms of the total number of deceased, the total number of infected, the peak infection rate and the economic consequences. We find that fatalities are almost always minimized by first vaccinating the elderly, except when vaccination is slow and the general transmission rate is relatively low. In this case deaths are minimized by first vaccinating the middle-aged as this group is responsible for substantial spreading of the virus to the elderly. With regard to the other outcome variables it is always best to vaccinate the middle-aged group first. A trade-off may therefore emerge between reducing fatalities on the one hand and lowering the number of infected as well as maximizing the economic gains from vaccinations on the other hand.
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| 32. |
- Forslid, Rikard, et al.
(författare)
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Why are firms that export cleaner? International trade, abatement and environmental emissions
- 2018
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Ingår i: Journal of Environmental Economics and Management. - : Elsevier BV. - 0095-0696 .- 1096-0449. ; 91, s. 166-183
-
Tidskriftsartikel (refereegranskat)abstract
- This paper proposes a detailed mechanism for why exporting firms may have a lower emission intensity when emissions are subject to an environmental tax. This mechanism of our model is supported by Swedish firm-level data. Our mechanism runs through firms' endogenous investments in abatement. Firms' abatement investments depend on their production volumes, since a larger scale allows them to spread the fixed costs of abatement investment across more units. Production volumes increase in firm productivity and, as a consequence, firms' emission intensity is negatively related to firm productivity. Exporting also leads to higher production volumes and thereby to a lower emission intensity. Thus, trade has an effect on emissions independently of firm productivity. Trade therefore leads to higher but cleaner production. The overall effect of trade on emissions is neutral in our model. Trade liberalization does not affect aggregate emissions in our benchmark case of symmetric countries.
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| 33. |
- Molla, Kiflu Gedefe, 1978-
(författare)
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Essays in International trade, exchange rates and prices
- 2017
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- This thesis consists of three self-contained essays in International Trade, Exchange Rates and Prices. Although independent, these essays share some common themes. The first two papers can be related to the vast literature on exchange rate pass-through to prices. While the first paper uses firm-product level data from Sweden to study firms’ export price response to movements in exchange rate, the second paper employs aggregate level data from Ethiopia and looks at the issue from the importers’ perspective. The third paper, like the first paper, uses Swedish firm-level data and investigates firms’ exporting behavior. The third paper, however, specifically focuses on export margins of multi-product firms and studies their response when exporting to destinations of different size and distance from the home country.
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| 34. |
- Pateli, Evangelia, 1983-
(författare)
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Essays on International Trade : Theory and Evidence on the Determinants and Implications of Firms' Import Behaviour
- 2018
-
Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- This thesis aspires to further contribute to our understanding of both the determinants as well as the implications of intermediate goods trade. Faced with intensifying global competition, firms are increasingly developing their production process and their sourcing strategies beyond national borders in order to take advantage of lower costs, superior quality and technological advances.In the first two chapters, I analyse firm-level import decisions in an environment allowing for unintentional exchanges of import-relevant information between firms. I build on the idea that any import-specific knowledge acquired by established importers, in a given region/industry, spills over to prospective importers lowering the costs associated with entry in international markets for intermediates. Chapter 1, using firm-level import data on the universe of Swedish firms, at the product level and by source market for the period 1998-2011, provides evidence for the existence of import spillovers and offers insights into the mechanisms through which they operate. Chapter 2, sets out a theoretical framework formalising import spillovers and their implications for the firm’s import behaviour and for consumer welfare.In the third and last chapter of this thesis, I turn to intermediate import dependence with an aim to explain the lack of sensitivity of trade flows to exchange rate movements. I propose a tractable framework and study how real devaluations affect firm-level export decisions and export performance, as well as aggregate exports and welfare in an environment where final goods production uses both domestic and imported intermediates.
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| 35. |
- Pavlos, Petroulas, 1972-
(författare)
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International Capital Flows : Effects, Defects and Possibilities
- 2004
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- Short-Term Capital Flows and Growth in Developed and Emerging Markets: A lot of attention has been directed towards recent financial crises. Empirical studies have found that short-term flows increase financial fragility and also increase the probability of financial crises. This study takes a macro-oriented approach and shows that large and volatile short-term flows may be growth inhibiting for emerging markets, while no effect is apparent for rich countries. The results in this study indicate that opening up emerging markets capital accounts, which implies increased short-term capital flows, is not a clear-cut way to prosperity.Macroeconomic Effects of Capital Controls on Short-Term Inflows: The financial turbulence of the last decade has led to a reanimated interest in capital controls as means to reduce volatile capital flows and exchange rate movements in emerging markets. A theoretical framework is set up where the effects on the return to capital, due to a tax on short-term capital inflows, are incorporated into a modified Dornbush model. Empirical findings in the form of GARCH and VAR estimations corroborate the theoretical assumptions and predictions of this simplified open economy model, when it comes to real and nominal exchange rates, interest rates and prices.The Effect of the Euro on Foreign Direct Investment: The recent effect of the European Monetary Union on inward FDI-flows is examined here. We use a difference-in-differences approach and fixed effects with common time controls. The estimated results of the latter approach show that the introduction of the Euro raises inward FDI by 17 percent within the Euro-area and by 9 and 12 percent to and from non-member countries respectively. Moreover the geographical effects of the Euro are explored. The results show partial agglomeration tendencies for the euro area. There are also some indications of increased importance of vertical specialization in the sample.
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| 36. |
- Sanctuary, Mark, 1972-
(författare)
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Essays on trade and environment
- 2013
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- The thesis comprises four essays examining aspects of international trade and environment."Border carbon adjustments (BCAs) and Strategic Climate Policy" examines how BCA affects government incentives to regulate emissions and trade in a strategic setting and contrasts the impact of a BCA and a tariff: the distinction being that the level of the BCA is a function of the difference in the trade partner's emission taxes whereas the tariff is not. I show that a BCA leverages the exporter's climate policy provided the exporter has little influence over world prices (i.e. export supply elasticity is large) and has a weak climate policy."How does the price of electricity affect imports? A study of Swedish manufacturing firms" examines the heterogeneous effects of a domestic electricity price increase on the structure of imports. We identify the magnitude of the impact of the electricity price increase on the structure of firm imports. Our findings agree with the predictions of our theoretical model."Trade, Transboundary Pollution and Market Size" suggests a new set of theoretical reasons that may help reconcile the contradictory empirical evidence of the impact of trade liberalization on the location of production to countries with weaker pollution policy. Our results suggest that relative market size, the level of trade costs, the ease of abatement, and the degree of product differentiation at the sector level are relevant variables for empirical studies on trade and pollution.Market shares for organic products are typically modest. Yet several consumer surveys find that a majority of respondents would buy substantially more of these products even if they cost more. "What’s holding it back? A study in organic retail coffee purchases" explores reasons for this apparent divergence. The results suggest that the limited overlap between organic and other highly-valued characteristics is one of the most important constraints.
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| 37. |
- Sheard, Nicholas, 1979-
(författare)
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Regional Economics, Trade, and Transport Infrastructure
- 2012
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- “Regional Policy in a Multiregional Setting: When the Poorest are Hurt by Subsidies” Regional subsidies have a positive short-term effect on the recipient regions, but as they alter migration patterns the long-term effects are less clear. This paper demonstrates using a three-region general equilibrium model that subsidising the poorest region may be to its detriment in the long term and thereby increase inter-regional inequality, if the subsidy draws firms from a nearby region that would function better as a production centre. The result has important implications for the design of regional policies, which are often applied simply according to per-capita incomes. “Learning to Export and the Timing of Entry to Export Markets” Standard trade models are essentially static and do not explain why entry to export markets would be delayed after the instant a firm is formed. This paper proposes a model that endogenously generates the timing of entry to new markets through a learning mechanism. Firms in the model gain experience by entering markets, which eases entry to subsequent markets. The mechanism motivates delays in entry to some markets. More productive firms are less sensitive to the learning effect and thus enter markets sooner and begin by exporting to larger markets. These predictions are confirmed using Swedish firm-level data. “Airports and the Production of Goods and Services” This paper estimates the effects of airport infrastructure on local employment in certain sectors, using data from the United States. Airport sizes are instrumented for using the 1944 National Airport Plan of the Civil Aeronautics Administration. Airport size is found to have a positive effect on local employment in tradable services, with an elasticity of approximately 0.1, and a negative effect on manufacturing. There is no measurable effect on non-tradable services. The results are relevant to the evaluation of airport improvement projects, which are often carried out using public funds.
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| 38. |
- Wiberg, Magnus, 1971-
(författare)
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Essays on the Political Economy of Protection and Industrial Location
- 2006
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- This thesis consists of three essays in the fields of the political economy of international trade.Location Equilibrium with Endogenous Rent Seeking:This paper analyzes the location of manufacturing activities when regional policy is determined by endogenous rent seeking. Once lobbying for government transfers to regions is included in an economic geography framework with size asymmetries, the standard prediction that the larger region becomes the core when trade barriers are reduced no longer holds. The establishment of manufacturing production in the economically smaller region is increasing in the level of regional integration once trade becomes freer than a certain threshold value. When free trade prevails, the relocation of industry takes place up to the point where there are as many firms operating in the South as in the North. Furthermore, lobbying slows down the agglomeration process, whereas the home market magnification effect (Baldwin, 2000) becomes weaker.Endogenous Tariff Formation and the Political Economy of Trade Retaliation:This paper extends the notion of endogenous tariff formation under representative democracy by allowing for strategic interaction between governments. The model developed suggests that the ideological distribution in the electorate within a country affects the tariff setting behavior among its trading partners. The equilibrium tariffs in a country depend on the trade policy preferences of the ideologically neutral voters among such partners as well as on the distribution of their sector-specific factor ownership. Ideological shifts in the population which systematically alter the political power of different voter groups, or types of factor owners, in one country thus influence the tariff setting behavior in competing trading nations.On the Indeterminacy of Trade Policy under Different Electoral Rules:Current research has found ambiguous results with respect to the effects of the type of electoral regime on trade policy. The present paper proposes a solution to this indeterminacy. It is shown that the equilibrium level of trade protection can be relatively higher, as well as lower, under a majoritarian electoral rule compared to proportional representation. The framework developed in this paper thus includes as special cases earlier models reported in the literature. The equilibrium outcome is shown to depend on the number of voters in swing districts who own a factor specific to the exporting industry in relation to those who possess claims to the specific input employed by the import-competing sector. Using a cross section of countries, empirical evidence is consistent with this hypothesis.
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| 39. |
- Åhlén, Sara, 1977-
(författare)
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Firms, Employment and Distance: Essays on the Swedish Regional Economy
- 2007
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- This thesis consists of three essays on the spatial relationships of economic activities in Swedish regions."Governmental Interventions and Market Potential - Determinants of Regional Variations in Firm Births"This paper examines determinants of regional variations in Swedish firm births over the period 1992-2002. I examine the role of self-employment grants, regional policy payments and market potential in a fixed effects regression model. Aggregate sector level regressions show that both self-employment grants and market potential have positive effects on firm birth. Regional policy effects are instead insignificant. The results are not sensitive to how we choose to define a new firm but differ between sectors when we introduce data on a disaggregated sector level."Which Economic Structures Foster Job Growth?"This paper is an empirical evaluation of how spatial structures affect dynamic externalities and their implication for job growth in different sectors. A model including local economic variables, natural advantages and unobserved regional differences is used to identify the underlying reasons for Swedish employment concentrations between the years 1993 and 2004. The relationship between economic structures and local labor growth is investigated in a municipality setting in order to capture labor transfers and spillovers with limited geographical reach. Special focus is given to the importance of municipal diversity, specialization and market potential. Sectoral regressions are executed in two steps; first by examining structures within the own region and then by including close municipalities to also account for spatial effects."How Good an Approximation to Actual Distance is Crow Distance?"This paper examines the importance of how distance is measured. I use a Swedish data set of distance between municipalities and compare four different location and distance collecting methods which are all used in empirical analysis. The first two data sets are given as crow distance between locations and differ in the way we choose to impose a municipality center. I also introduce two journey based distance approaches; shortest road travel distance and travel time. The focus of the paper is to investigate whether the latter more detailed distance data makes a difference to economic empirical research on market potential and regional wage differences. I start the study with an examination of distance differences and continue with an analysis of the impact of distance on total market access measurements. The impact of the different measures is also investigated in a simple wage equation. Due to great data similarities in both market potential and throughout all regressions, I conclude there to be no strong case for not using a simple crow distance measure in this type of regional analysis.
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| 40. |
- Åkerman, Anders, 1977-
(författare)
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Essays on International Trade, Productivity and Firm Heterogeneity
- 2008
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- The thesis consists of three papers, summarized as follows.”Trade, Intra-Industry Reallocations and Aggregate Productivity: A Bridge between Theory and Data in Öresund”The paper aims at estimating the causal effect of trade liberalisation on aggregate productivity through firm selection as in Melitz (2003). The natural experiment used is the construction of a bridge in the year 2000 across the Öresund Strait linking Copenhagen, the capital of Denmark, with Malmö, the third largest city in Sweden. Substantial, though not entirely conclusive, evidence is found for the model. Firms based in Malmö raise their exports substantially, mainly by firms selecting into exporting. There is also an increase in the aggregate productivity in Malmö and this is mostly due to the reallocation of production from less productive to more productive firms.”Country Size, Productivity and Trade Share Convergence: An Analysis of Heterogenous Firms and Country Size Dependent Beachhead Costs”This paper introduces a market size dependent firm entry cost in the Melitz (2003) model, which leads to several new predictions that are in line with the data. Exporters as well as non-exporters based in a large market are, on average, more productive than those based in a smaller market. Moreover, as the fixed entry cost of exporters into each market declines, for instance as the result of economic integration, export shares converge. This result is supported by the empirical part of this paper. Finally, we use a multicountry version of our model to derive a gravity equation.”Industry Location in Export Processing Zones with Vertical Linkages and Agglomeration”This paper provides a rationale for the common use of Export Processing Zones (EPZs) in third world countries, as an alternative to liberalising foreign trade for all regions. Using a model from the New Economic Geography literature with vertically linked industries (to account for the fact that EPZ industry is typically characterised by the assembly of intermediate goods), I analyse the effect of an EPZ policy on the location of industry.
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